Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
(Willingness to pay , marginal analysis, and the demand curve.)
Q1. George and Maria are the only consumers in an economy. George’s total willingness to pay
schedule for sunglasses is
150 dollars for 1 pair
150 dollars for 2 pairs
150 dollars for 3 pairs
150 dollars for 4 pairs
150 dollars for 5 pairs
Maria’s total willingness to pay schedule for sunglasses is
100 dollars for 1 pair
100 dollars for 2 pairs
100 dollars for 3 pairs
100 dollars for 4 pairs
100 dollars for 5 pairs
Theprice of a pair of sunglasses is $200.
Draw the Market demand curve for sunglasses.
Q1. George and Maria are the only consumers in an economy. George’s total willingness to pay
schedule for sunglasses is
150 dollars for 1 pair
150 dollars for 2 pairs
150 dollars for 3 pairs
150 dollars for 4 pairs
150 dollars for 5 pairs
Maria’s total willingness to pay schedule for sunglasses is
100 dollars for 1 pair
100 dollars for 2 pairs
100 dollars for 3 pairs
100 dollars for 4 pairs
100 dollars for 5 pairs
The
Draw the Market demand curve for sunglasses.
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